Mumbai: Equity offerings involving Reliance Industries<\/a> and its group units have topped the share sale chart across all listed companies globally so far in 2020.
According to a study of Bloomberg data and company announcements of all equity offerings, the Mukesh Ambani-controlled conglomerate has mopped up $18.4 billion through this route. The other companies in demand have been US-based money manager Blackrock, in which shares worth $13.3 billion changed hands, and Regeneron Pharmaceuticals, in which stake worth $11 billion was picked up. Other companies whose big chunks of shares have found takers include Singapore Airlines, Brazil’s Petrobras and US-based Southwest Airlines.
The highest equity offering in a year was from Saudi Arabia’s oil giant Aramco, which raised about $29.4 billion last December through initial public offering, beating previous record of Alibaba Group<\/a> Holding’s $25 billion in 2014.
Reliance Industries has announced a flurry of share sales as it looks to cut debt. The company’s rights issue of ₹53,000 crore has opened, and it has sold over 17% stake in its digital unit Jio Platforms<\/a> in one month for a combined ₹78,572 crore.
Facebook<\/a> picked up 9.99% for ₹43,574 crore while Silver Lake bought 1.15% for ₹5,665.75 crore in the unit. On May 8, US-based Vista Equity Partners<\/a> bought 2.32% in Jio Platforms for ₹11,367 crore, and on May 17, global equity firm General Atlantic<\/a> picked up 1.34% stake for ₹6,598.38 crore. In a fifth deal, global investment firm KKR & Co bought 2.32% stake for ₹11,367 crore.
As on March 31, RIL had an outstanding debt of ₹3,36,294 crore. It also had cash in hand of ₹1,75,259 crore, bringing the net debt position to ₹1,61,035 crore.
Mumbai: Equity offerings involving Reliance Industries<\/a> and its group units have topped the share sale chart across all listed companies globally so far in 2020.
According to a study of Bloomberg data and company announcements of all equity offerings, the Mukesh Ambani-controlled conglomerate has mopped up $18.4 billion through this route. The other companies in demand have been US-based money manager Blackrock, in which shares worth $13.3 billion changed hands, and Regeneron Pharmaceuticals, in which stake worth $11 billion was picked up. Other companies whose big chunks of shares have found takers include Singapore Airlines, Brazil’s Petrobras and US-based Southwest Airlines.
The highest equity offering in a year was from Saudi Arabia’s oil giant Aramco, which raised about $29.4 billion last December through initial public offering, beating previous record of Alibaba Group<\/a> Holding’s $25 billion in 2014.
Reliance Industries has announced a flurry of share sales as it looks to cut debt. The company’s rights issue of ₹53,000 crore has opened, and it has sold over 17% stake in its digital unit Jio Platforms<\/a> in one month for a combined ₹78,572 crore.
Facebook<\/a> picked up 9.99% for ₹43,574 crore while Silver Lake bought 1.15% for ₹5,665.75 crore in the unit. On May 8, US-based Vista Equity Partners<\/a> bought 2.32% in Jio Platforms for ₹11,367 crore, and on May 17, global equity firm General Atlantic<\/a> picked up 1.34% stake for ₹6,598.38 crore. In a fifth deal, global investment firm KKR & Co bought 2.32% stake for ₹11,367 crore.
As on March 31, RIL had an outstanding debt of ₹3,36,294 crore. It also had cash in hand of ₹1,75,259 crore, bringing the net debt position to ₹1,61,035 crore.
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